Srivari Spices and Foods Limited IPO (Srivari Spices and Foods IPO) Detail

 

Incorporated in 2019, Srivari Spices and Foods Limited is engaged in the business of manufacturing spices and flour (chakki atta). The company also undertakes the process of marketing and selling its products. The company operates its operations primarily in and around Telangana and Andhra Pradesh.

The product categories of Srivari Spices and Foods are - Spices, Masala, and Atta. These include diverse spice products. The spices are delivered to over 3000 retail outlets and its whole wheat and sharbati atta to over 15000 outlets in Telangana and Andhra Pradesh.

Srivari Spices and Foods gathers its raw materials from various parts of the country and thereafter processes the same to create the final products. The entire procedure is executed with utmost care and without the use of artificial preservatives or chemicals. This way they create organic spices and flour, which carry the freshness and goodness of each ingredient.

The company engages in two business models to sell its end products:

• Direct to the customer (D2C)

• Business to business (B2B)

In 2021, Srivari Spices was recognized as the "Best Emerging Spices Brand 2021" by Business Mint. The company has two manufacturing facilities. The first production facility was established in 2019 in Jalpally Village Ranga Reddy District, Telangana from where the company first started its primary operations. The second unit was set up in 2021 at Raikal Village, Farooqnagar Mandal, Ranga Reddy District, Telangana.

Srivari Spices and Foods IPO Details

Srivari Spices and Foods IPO is a Book Built Issue. The IPO total issue size is Rs 9.00 Cr. The Srivari Spices and Foods IPO price is ₹40 to ₹42 per share. The IPO will list on NSE SME.

IPO Date	Aug 7, 2023 to Aug 9, 2023
Listing Date	[.]
Face Value	₹10 per share
Price	₹40 to ₹42 per share
Lot Size	3000 Shares
Total Issue Size	2,142,000 shares (aggregating up to ₹9.00 Cr)
Fresh Issue	2,142,000 shares (aggregating up to ₹9.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	5,000,000
Share holding post issue	7,142,000
Market Maker portion	108,000 shares

Srivari Spices and Foods IPO Reservation

Srivari Spices and Foods IPO a total of 2,142,000 shares are offered. QIB: 408,000 (19.05%), RII: 714,000 (33.33%), NII: 306,000 (14.29%).

Anchor Investor Shares Offered	606,000 (28.29%)
Market Maker Shares Offered	108,000 (5.04%)
QIB Shares Offered	408,000 (19.05%)
NII (HNI) Shares Offered	306,000 (14.29%)
Retail Shares Offered	714,000 (33.33%)
Total Shares Offered	2,142,000 (100%)

Srivari Spices and Foods IPO Timetable (Tentative)

Srivari Spices and Foods IPO opens on Aug 7, 2023, and closes on Aug 9, 2023.

IPO Open Date	Monday, 7 August 2023
IPO Close Date	Wednesday, 9 August 2023
Basis of Allotment	Monday, 14 August 2023
Initiation of Refunds	Wednesday, 16 August 2023
Credit of Shares to Demat	Thursday, 17 August 2023
Listing Date	Friday, 18 August 2023
Cut-off time for UPI mandate confirmation	5 PM on Aug 9, 2023

Srivari Spices and Foods IPO Lot Size

The minimum lot size of this Srivari Spices and Foods IPO is 3000 shares required is ₹126,000.

Application	Lots	Shares	Amount
Retail (Min)	1	3000	₹126,000
Retail (Max)	1	3000	₹126,000
HNI (Min)	2	6,000	₹252,000

Srivari Spices and Foods IPO Promoter Holding

Rathi Narayan Das and Neihaa Rathi are the Promoters of the Company.

Pre Issue Share Holding	99.90%
Post Issue Share Holding

Company Financials

Period Ended	31 Mar 2020	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	235.88	627.38	1,067.62	2,568.13
Revenue	19.05	1,139.90	1,764.21	3,582.01
Profit After Tax	-10.69	35.26	72.84	312.61
Net Worth	177.54	426.91	499.75	910.02
Reserves and Surplus	-10.69	24.57	97.41	410.02
Total Borrowing			277.39	1,283.51

Amount in ₹ Lakhs

Key Performance Indicator

Srivari Spices and Foods IPO Market Cap is Rs 30 Cr and P/E (x) is 9.59.

KPI	Values
P/E (x)	9.59
Market Cap (₹ Cr.)	30
ROE	44.35%
ROCE	23.65%
Debt/Equity	1.41
EPS (Rs)	4.45
RoNW	24.79%